Ottawa is evolving as a startup ecosystem and has a number of top startups to watch out for in 2019. The tech sector in the city is more prominent than the others and attracts a substantial amount of the total venture capital invested in the ecosystem.
The capital city offers the best of entrepreneurial conditions for startups to survive and thrive. There are more than 500 Ottawa based startups in the ecosystem which are also contributing to the creation of a sustainable jobs market in the region. These are some of such top Ottawa startups to watch out for in 2019.
This top startup from Ottawa is a leader in supply chain data management and is expected to bring in the heat in the city?s startup ecosystem in the coming years. Assent Compliance was founded by Robert Imbeault (Director, Product Design and Director of Development) and Matt Whittekar. The Ottawa-based startup became one of the highest funded startups of 2018 with $100 million in Series C round of funding.? Assent Compliance received this amount in growth equity from Warburg Pincus,? an international private equity firm.? With the completion of this round, the company became one of the top Ottawa startups to watch out for 2019 with lots of development expected to pan out next year.
You.i TV is one of the top Ottawa startups to watch out for in 2019 in the newly emerging mediate sector of the city?s startup ecosystem.? The company was founded by Jason Flick and Stuart Russell and has created a cross-platform startup for videos experiences. This top startup from Ottawa uses a single codebase and is adaptable on multiple platforms like gaming consoles, smart televisions, streaming devices, and mobiles. The company?s Series C round of funding led by Causeway Media Partners brought in $23 million. This was the third round of funding for this top Ottawa startup bringing the total standing investments secured till date to $35 million.
Ranovus is an optical interconnect solutions company which was founded in 2012 by Douglas Beckett, Hamid Arabzadeh, and Saeid Aramideh. The Ottawa-based startup is a pioneer in introducing optical interconnect solutions based on Quantum Dot Multi-Wavelength Laser technology paired with advanced digital and photonics integrated circuit technologies. The investments that the Ranovus? innovation has brought in expected to help the company achieve new milestones next year making it one of the top Ottawa startups to watch out for in 2019. The tech startup had received an $8 million grant from the Sustainable Development? Technology Canada funding program and another grant funding of? $20 million from the federal government in 2018.? The total investment received by the Ottawa-based startup amounts to $68.5 million.
Founded by tech expert Stephan Jou, Interset is a cybersecurity analytics company headquartered in Ottawa. The company’s novel services in offering machine learning based insights to IT teams to tackle any threats to the any of the systems. The top startup from Ottawa has secured $24 million from two funding rounds since it was founded in 2015. It acquired funds of $10 million in 2018 through venture capital funding.? Toba Capital led the series which also had Propulsion Ventures, In-Q-Tel, and Anthem Venture Partners participating in it. What makes Interset one of the top Ottawa startups to watch out for in 2019 and sets it apart from the other cybersecurity firms is its extensible analytics engine which is a one-stop solution for detecting cybersecurity threats of all degrees.
Careworx is an innovative IT solutions brand founded by Mark Scott. The Ottawa-based startup provides cloud products, technology hardware, and IT automation solutions exclusively for use in resident care facilities meant for seniors. Careworx is one of the top startups to watch out for in 2019. This can be attributed to the startup?s funding activities which made headlined in 2018. The? tech company raised? CA $17 million in a private equity funding round from Kayne Partners, bringing the total amount of funds raised since its establishment in 2006? to $24 million. The Ottawa-based startup aims to advance existing services and expand its operations in new areas with the recently acquired funds.
Another one of the top Ottawa startups to watch out for next year is Corsa Technology, a networking and infrastructure company. The hardware startup was founded in 2011 by Bruce Gregory and Carolyn Raab. The high impact infrastructure offered by this top startup from Ottawa has helped it secure $9 million worth of equity from its Series C round of funding. Corsa Technology?s total funds so far are close to $30 million, and investors contributing to it include Roadmap Capital and Celti House Venture Partners.
Founded in 2017, this new age fintech startup has become one of the top Ottawa startups to watch out for in 2019. ?A leading startup in the information and technology services field, this Ottawa based startup has developed an enterprise level digital banking platform that has attracted funding capital from some of the prominent investors in Canada. The company is spearheaded by its founders Avinash Chidambaram (CEO) and Brian McBride (COO). The leading fintech startup has raised $10 million from Purpose Financial LP, its first and only round of funding so far. The up and coming Ottawa based startup has had a promising start and is surely one of the top startups to watch out for in the coming years.
This top startup from Ottawa is based on two very important tech sub-sectors -AI and manufacturing. Raven Telemetry completed one round of funding this year and is one of the top Ottawa startups to watch out for in 2019. It raised an amount of $6.1? million from angel investors in this round. The AI startup helps manufacturing companies get a better understanding of their processes by offering real-time analytics and much-needed insights. Raven Telemetry achieves this with the help of its cloud-based applications and technology. The Ottawa-based startup was found in 2013 by Martin Cloake, Andrew Blanchard, and Braden Stenning.
MindBridge AI Another one of the top startups to watch out for in 2019 from the AI sector is MindBridge AI. The company was founded by Eli Fathi, Solon Angel, and Jim Fagan in 2015 and has already captured a good market shared within the three years of its establishment. The Ottawa based startup helps finance companies by offering AI solutions and products that can make auditing and other financial services with powerful and complete data analysis that is powered by machine learning. It flags any error and is not a time-consuming process. This top startup from Ottawa raised $8.4 million in Series A round of funding.? Its existing investor Real Ventures led this round and was also joined by the National Bank of Canada, the Group Investment, 8VC, and Reciprocal Ventures. The company?s promising services and lead in the sub-sector warrants it a place among one of the top Ottawa startups to watch out for in 2019.
CanvasPop is one of the top-funded ecommerce startups that received high funding in 2018 and is one of the top Ottawa startups to watch out for in 2019. The company was set up in 2009 by Adrian Salamunovic and Nazim Ahmed to bring out about a new and personalised way of photo printing. CanvasPop is a top startup from Ottawa is an on-demand photo and art printing platform that is innovative and easy to use.? The Ottawa-based startup has caught up pace in the recent years in the area of investment becoming one of the top Ottawa startups to watch out for in 2019. CanvasPop completed its Series A round of funding in February 2018? securing $3.3 million through it.